Analysis by the Lang Cat for Zurich has found investment platforms were struggling to get to grips with delivering income in retirement.

Staff and advisers at the Openwork network have raised £562,000 in the past year to help disadvantaged children and young adults, pushing the total raised since 2005 by people working for Openwork to £7.4m.

Zurich revealed triple digit percentage increases in profits in both life and savings and general insurance sections of the business, according to the firm’s 2018 full year results.

The launch of the pensions dashboard could spark an increase in demand for advice as savers look to consolidate their pots, according to platform provider Zurich.